65% of employers had to offer higher salaries in order to attract new employees
According to research from Morgan McKinley, the majority, or 77%, of businesses in Mainland China plan to hire new permanent or contract employees in the first half of the year.
The research revealed that 41% of employers think they will lose staff in the next six months as they seek to earn more by moving jobs, and 45% of employees in Mainland China are looking to move jobs in the same period.
Morgan McKinley’s research also showed that 65% of employers had to offer higher than anticipated salaries in order to attract new employees over the last 12 months. Furthermore, 59% of employers in China think that salaries in their specific sector will rise in 2023, with 41% planning on increasing base salaries across all teams.
Over half, or 53%, of employees in China are expecting their salaries to increase this year, with 75% also expecting some form of bonus payout.